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mark to market debate is silly. everyone knew this was coming. you know that without mark to market the balance sheets of european companies meant something different than american companies.
Sep 26 00:58 am
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All Comments by Steven Hansen »Bernanke & Paulson Need to Create a Mortgage Specialist Fund [View article]
everyone failed at risk analysis. if you are a bank, you cannot hold assets which can fluctuate significantly in value. they ignored the warning signs to maximize profits. this painful exercise now is necessary because unlike other opinions, i believe the value to many of these assets will not return any time soon.